Chap018-baker 14

Chap018-baker 14 - BUDGETARY FUND BALANCE RESERVED FOR...

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Chapter 18 - Governmental Entities: Special Funds and Government-Wide Financial Statements 18-14 E18-6 Capital Projects Fund Entries a. Entries for capital projects fund during 20X2: .1. Receipt of grant, sale of bonds and transfer of premium. January 1, 20X2 . Cash 50,000 Revenue – County Grant 50,000 Receipt of grant from county. January 1, 20X2 Cash 156,000 Other Financing Sources – Bond Issue 150,000 Other Financing Sources – Bond Premium 6,000 Sale of $150,000 par bonds at 104. November 3, 20X2 Other Financing Uses – Transfer Out to Debt Service Fund 6,000 Cash 6,000 Transfer premium to debt service fund. 2. Entries to record and pay for construction: April 5, 20X2 ENCUMBRANCES 182,000
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Unformatted text preview: BUDGETARY FUND BALANCE RESERVED FOR ENCUMBRANCES 182,000 August 8, 20X2 BUDGETARY FUND BALANCE RESERVED FOR ENCUMBRANCES 182,000 ENCUMBRANCES 182,000 ExpendituresCapital Outlay 189,000 Contract Payable 189,000 Establish contract payable for walkway. ExpendituresCapital Outlay 5,500 Vouchers Payable 5,500 Establish vouchers payable for added carpeting. November 3, 20X2 Contract Payable 189,000 Vouchers Payable 5.500 Cash 194,500 Pay contract payable and vouchers payable. 3. Close nominal accounts: Revenue County Grant 50,000 Other Financing Sources Bond Issue 150,000 Other Financing Sources Bond Premium 6,000 Fund Balance Unreserved 206,000...
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